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Level 1

Undeposited funds not showing as sales on p&l

I have created invoices, received payments, and recorded deposits. 
It is transferring directly to my account as a deposit labeled “undeposited funds”. 
The amount is not showing as sales when I run reports. 
What am I doing wrong?

1 Comment
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QuickBooks Team

Undeposited funds not showing as sales on p&l

Hi there, Ami123.

 

Undeposited Funds account in QuickBooks is a special temporary account that QuickBooks uses to hold payments received from customer invoices before you deposit them into the bank. It'll not show as sales unless you deposit them in your bank account.

 

You can create a bank deposit for all the received payments you recorded posted to the Undeposited Funds account. This is to ensure that there are not payments left to be deposited. Also, the amounts will show as sales in your Profit and Loss report.

 

After you've verified and created deposits and amounts are not showing on the reports, you can try running the Verify and Rebuild Data Utility

 

For more details, check out these references:

 

Let me know if you have other questions. Wishing you all the best!

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